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Miles,Ltd. ,a foreign corporation,has a U.S.branch that earns effectively connected earnings and profits (after income taxes) of $600,000 for the tax year.The branch's U.S.net equity at the beginning of the tax year is $2 million and at the end of the tax year is $2,800,000.Miles is in a nontreaty country.Miles' branch profits tax for the year is:
Sit-down Strike
A form of protest where workers physically occupy their workplace but refuse to work, aiming to halt production.
General Motors
A multinational corporation headquartered in the United States that designs, manufactures, markets, and distributes vehicles and vehicle parts.
Pursuit of Happiness
A fundamental right mentioned in the Declaration of Independence to freely pursue joy and live life in a way that makes one happy, as long as one does not do anything illegal or violate the rights of others.
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